Arkansas Real Estate Practice Exam

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When can a broker enter into another agency agreement if there is an existing exclusive agency agreement?

At any time, provided it is with a different client
Without restrictions if it benefits the client
Only after notifying the client in writing to consult an attorney
Never, under any circumstances

The correct answer is: Only after notifying the client in writing to consult an attorney

A broker can only enter into another agency agreement if there is an existing exclusive agency agreement after notifying the client in writing to consult an attorney. This is to ensure that the client is aware of the potential conflicts of interest and can seek legal advice before making a decision. Option A is incorrect because a broker cannot enter into another agency agreement with a different client while there is already an exclusive agreement in place. Option B is incorrect because there are restrictions on when a broker can enter into another agency agreement. Option D is incorrect because there are circumstances under which a broker can enter into another agency agreement, as long as the client is properly notified and given the opportunity to seek legal advice.